Think about it. You are an investor like Jana Lightspeed. You want to make sure that Uber has a bright future ahead. What do you do? How do you make sure that Uber will win?
Jana Lightspeed and Uber on Raising the Prices
This seems to be the most simple, basic, yet effective model to people who want to generate greater revenue. This is especially true when the company in question holds a popular user-base, an impressive infrastructure, and a formidable outreach.
Why wouldn’t it be? Uber seemingly has the market share, the dependency of its customers, and the power of its workforce behind it. Even if it is not turning any profits, the company has been increasing its revenue on a consistent basis.
All of it points towards a possibility where increasing price may not be seen as something that may turn away the people who have come to depend on it.
But that is where the ones suggesting this model get it so wrong.
If you have been keeping in touch with the overall market trends, then it wouldn’t be a hot take for you to learn that Uber is not the most innovative startup that it was once taught to be.
Yes, it revolutionized the way that ride-hailing and ride-sharing works. Yes, it changed the face of transportation forever. Yes, it created a lot of jobs and opportunities in the process. But no, it is far from being the only player in the market who people could depend upon.
Let’s talk about Lyft, for instance. The “anti-Uber” version of ride-sharing has been going after Uber’s market share ever since it was formed in 2012. While the first few years had been quite difficult for the firm, it managed to pull through its operations.